ALERUS FINANCIAL CORPORATION
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $17.4M | $17.8M | $11.7M | $40.0M | $52.7M | $44.7M | $29.5M | $25.9M |
| Depreciation & Amortization | $15.3M | $9.8M | $8.5M | $8.5M | $8.9M | $9.0M | $8.8M | $8.7M |
| Depreciation | $4.7M | $3.0M | $2.5M | $3.0M | $3.6M | $3.9M | $3.6M | $3.2M |
| Amortization | $10.5M | $6.8M | $5.3M | $4.8M | $4.4M | $4.0M | $4.1M | $4.6M |
| Stock-Based Compensation | $2.7M | $1.7M | $1.6M | $1.9M | $3.1M | $1.9M | $1.8M | $1.8M |
| Net Cash from Operating Activities | $67.5M | $21.7M | $26.8M | $103.0M | $149.8M | $-22.3M | $19.2M | $53.6M |
| Investing Activities | ||||||||
| Capital Expenditures | $8.7M | $12.4M | $3.1M | $1.8M | $1.7M | $3.8M | $2.9M | $3.8M |
| Business Acquisitions | — | — | — | $-101.5M | — | $9.3M | — | — |
| Net Cash from Investing Activities | $76.6M | $-322.8M | $-49.9M | $-292.6M | $-417.7M | $-538.4M | $-65.6M | $-154.7M |
| Financing Activities | ||||||||
| Dividends Paid | $20.8M | $15.4M | $14.8M | $12.8M | $10.8M | $10.4M | $8.9M | $7.5M |
| Stock Repurchases | $737.0K | $276.0K | $6.6M | $738.0K | $712.0K | $482.0K | $1.9M | $356.0K |
| Net Cash from Financing Activities | $-138.1M | $232.4M | $94.8M | $5.6M | $337.2M | $589.6M | $149.7M | $19.8M |
| Net Change in Cash | $6.0M | $-68.7M | $71.7M | $-184.1M | $69.3M | $29.0M | $103.4M | $-81.3M |
| Free Cash Flow | $58.8M | $9.4M | $23.7M | $101.2M | $148.1M | $-26.1M | $16.3M | $49.8M |